The group of 21 activists provided examples of how crypto assists people around the world, saying “tens of millions” rely on Bitcoin (BTC) and stablecoins as a way to access financial tools.
India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told the Parliamentary Standing Committee on Finance that the decentralized nature of crypto assets makes any consumer […]
Let's say a drug dealer takes $10 million dollars in illegal earnings and spaces out crypto purchases anonymously using ATMs. The crypto gets transferred to a DEX and XMR is purchased. That XMR then gets sent to several wallet addresses and declared to the government. The government can't trace the XMR so the drug dealer…
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The duo will launch a Budweiser-themed race track, Budweiser NFT passes, racing prize pools starting at $45,000 and three tiers of airdropped Clydesdale NFT skins that are usable in Zed Run.
Just like other altcoins, Ethereum too extended losses today. Over the last 24 hours, the altcoin slipped below the $1900 price level. Bitcoin also fell on its chart and major industry altcoins followed suit. Most coins over the past week and a half have been consolidating on their charts. Following the consolidation, some altcoins attempted to rise on their charts but was soon met with the bears due to choppiness in the market. Overhead resistance for Ethereum continues to remain firm for the coin as market remains weak. Buyers are still wary of their next step as ETH witnessed fluctuations in price level. Amidst bearish price action, Ethereum has managed to capture a bullish signal on the one day chart. If demand grows back, the coin could regain a bullish stance over the upcoming trading sessions. Ethereum Price Analysis: One Day Chart ETH was exchanging hands at $1800 after it encountered stiff resistance at the $1900 price level. Over the last 24 hours, Ethereum lost 2.6% of its value. In the past week, ETH depreciated by almost 10%. A fall from the current price level will make ETH trade near the $1700 price mark. Ethereum was back to trading at the price levels it last traded in the month of July 2021. Overhead resistance for the coin awaited at $1960. If demand remains consistent the altcoin could push itself to trade near the $2000 price mark. The volume of Ethereum declined a little but the bar was red in colour. The red bar signified a bearish price action. Technical Analysis The altcoin despite a fall in price noted considerable uptick in the number of buyers in the market. This signal paints optimism for the coin for the upcoming trading sessions. The Relative Strength Index noted a bullish divergence (Yellow). This occurs when despite a price fall, buying strength increases in the market. This is a sign of upcoming bullishness. The RSI was headed towards the half-line although even at press time sellers outnumbered buyers in the market. In correspondence to the same reading, Ethereum was pushing hard to rise above the 20-SMA. If it manages to maintain a buying strength the push can cause buyers to drive the price momentum in the market. Related Reading | TA: Ethereum Fails Near Key Resistance, Why $1,700 Is The Key The altcoin continued to display that the bulls still haven’t completely faded. The Moving Average Convergence Divergence is supposed to read the price momentum and changes in the same. MACD underwent a bullish crossover and portrayed green signal bars. The green signal bars are tied to a buy signal. If demand helps Ethereum, buyers can push price to $2000. The Parabolic SAR however, showed a trend reversal as the dotted lines moved above the price candlesticks. This is tied with bearishness in the market. The Parabolic SAR however, is not always reliable while reading trend changes. Related Reading | Glassnode: Bitcoin Long-Term Holders Own 90% Of Supply In Profit
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Bitcoin remained strong above the $29,500 support against the US Dollar. BTC could start a major increase if there is a clear move above the $31,500 resistance. Bitcoin started a fresh increase from the $29,500 support zone. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major upward move if there is a clear move above the $31,500 resistance. Bitcoin Price Reverses Losses Bitcoin price remained well bid above the $29,200 and $29,500 levels. A low was formed near $29,200 and the price started a fresh increase. There was a clear move above the $30,000 resistance zone. The bulls were able to pump the price above the $30,500 level and the 100 hourly simple moving average. It even surged above the $31,000 level and even tested the $31,500 resistance zone. A high is formed near $31,550 and the price is now consolidating gains. It already tested the 23.6% Fib retracement level of the recent increase from the $29,200 swing low to $31,550 high. An immediate resistance on the upside is near the $31,400 level. There is also a key bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair. The first major resistance is near the $31,500 level. A clear move above the $31,500 resistance level could send the price further higher. Source: BTCUSD on TradingView.com The next major resistance might be $32,200. Any more gains might change the bias and bitcoin price could rise towards the $33,200 level. Fresh Decline in BTC? If bitcoin fails to clear the $31,500 resistance zone, it could start another decline. An immediate support on the downside is near the $30,850 level. The next major support is near the $30,175 level. It is near the 50% Fib retracement level of the recent increase from the $29,200 swing low to $31,550 high. A downside break below the $30,175 support may perhaps spark another decline. In the stated case, the price could dive towards the $29,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level. Major Support Levels – $30,850, followed by $30,175. Major Resistance Levels – $31,400, $31,500 and $32,200.
